Tether Investments Announces Acquisition of Additional Securities of Elemental Altus Royalties Corp.

/NOT FOR DISTRIBUTION TO US NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

SAN SALVADOR, Republic of El Salvador, June 17, 2025 /CNW/ - Tether Investments S.A. de C.V. (the "Acquiror") announces the acquisition of additional common shares (the "Common Shares") of Elemental Altus Royalties Corp. ("Elemental"), a gold-focused royalty company listed in Canada. This announcement is made pursuant to the "early warning" requirements of Canadian securities legislation. The Acquiror has or will shortly be filing an early warning report in respect of this announcement on Elemental's SEDAR+ profile at www.sedarplus.ca (the "Early Warning Report").

On June 16, 2025, the Acquiror purchased, pursuant to a private agreement in a transaction outside of Canada, an aggregate of 10,000,000 Common Shares (the "Purchased Shares").

Prior to the acquisition of the Purchased Shares, the Acquiror owned and had control over an aggregate of 82,782,291 Common Shares, representing approximately 33.7% of the issued and outstanding Common Shares. Immediately following the completion of the acquisition of the Purchased Shares, the Acquiror owned and controlled an aggregate of 92,782,291 Common Shares, representing approximately 37.8% of the issued and outstanding Common Shares.

The aggregate purchase price paid by the Acquiror for the acquisition of the Purchased Shares was CAD$15,500,000, representing a price per Purchased Share of CAD$1.55. The acquisition of the Purchased Shares was conducted via private agreement outside of Canada and not through any stock exchange or other securities market.

The Acquiror remains a party to an option agreement dated June 10, 2025 (the "Option Agreement") pursuant to which the Acquiror has the option to acquire (but not the obligation to acquire), in an offshore transaction, and subject to certain terms and conditions, an aggregate of 33,444,580 Common Shares from a third party (the "Option Shares"). The option has not been exercised and may not be exercised prior to October 29, 2025 without the consent of Elemental.

If the Option Shares are acquired by the Acquiror pursuant to the Option Agreement, assuming no intervening Common Shares are acquired by the Acquiror or issued by Elemental (and assuming no additional Common Shares subsequently form part of the Option Shares), the Acquiror would own and control 127,226,871 Common Shares of the Issuer, representing approximately 51.8% of the issued and outstanding Common Shares.

For more information relating to the Option Agreement, please refer to the Acquiror's press release issued June 10, 2025 and its related early warning report dated the same date and filed on Elemental's SEDAR+ profile at www.sedarplus.com.

The Acquiror acquired the Purchased Shares for investment purposes. Depending on market conditions, general economic and industry conditions, Elemental's business and financial condition and/or other relevant factors, the Acquiror may, from time to time, acquire additional Common Shares or other securities of Elemental (including the Option Shares) through market transactions, private agreements, treasury issuances or otherwise, or disposing of all or some of its Common Shares. The Acquiror intends to engage with management of Elemental and may develop plans or intentions in the future with respect to other of the matters listed in clauses (a) through (k) of Item 5 of its Early Warning Report as it deems appropriate, including without limitation, seeking board representation, or making proposals to Elemental concerning changes to its capitalization, ownership structure or operations.

The acquisition of the Purchased Shares occurred in a transaction outside of Canada to which take-over bid requirements of Canadian securities laws do not apply, however the acquisition also meets the conditions of Section 4.2 of National Instrument 62-104 – Take-Over Bids and Issuer Bids.

The head office of Elemental is Suite 1020 – 800 West Pender Vancouver, British Columbia V6C 2V6, Canada.

About Tether Investments

Tether Investments is a corporation existing under the laws of the Republic of El Salvador and is an affiliate of the Tether group of companies. Tether Investments is focused on strategic investments that complement its vision for open financial systems supported by digital and real-world assets.

The head office address of Tether Investments is Final Av. La Revolucion, Colonia San Benito, Edif. Centro, Corporativo, Presidente Plaza, Nivel 12, Oficina 2, Distrito de San Salvador, Municipality of San Salvador Centro, Republic of El Salvador.

The Acquiror will send a copy of its Early Warning Report relating to this announcement promptly to any person requesting it.

SOURCE Tether Investments S.A. de C.V.

For further information, please contact: Name: Stephenie Vasco, Communications and PR Services VP, Tether, Telephone number: [phone], Email: [email protected].